Senate Bill sb7026pb
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7026
FOR CONSIDERATION By the Committee on Government Efficiency
Appropriations
593-466-06
1 A bill to be entitled
2 An act relating to property taxation; amending
3 s. 193.155, F.S.; providing conditions under
4 which changes, additions, or improvements that
5 replace all or a portion of homestead property
6 damaged or destroyed by misfortune or calamity
7 shall not be assessed at just value; providing
8 for assessment of replaced homestead property;
9 amending s. 196.031, F.S.; providing conditions
10 under which homestead property that is damaged
11 or destroyed by misfortune or calamity and is
12 uninhabitable on January 1 after the damage or
13 destruction occurs may be granted the homestead
14 exemption; providing for retroactive
15 application; providing an effective date.
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17 Be It Enacted by the Legislature of the State of Florida:
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19 Section 1. Subsection (4) of section 193.155, Florida
20 Statutes, is amended to read:
21 193.155 Homestead assessments.--Homestead property
22 shall be assessed at just value as of January 1, 1994.
23 Property receiving the homestead exemption after January 1,
24 1994, shall be assessed at just value as of January 1 of the
25 year in which the property receives the exemption.
26 (4)(a) Except as provided in paragraph (b), changes,
27 additions, or improvements to homestead property shall be
28 assessed at just value as of the first January 1 after the
29 changes, additions, or improvements are substantially
30 completed.
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7026
593-466-06
1 (b) Changes, additions, or improvements that replace
2 all or do not include replacement of a portion of real
3 property damaged or destroyed by misfortune or calamity shall
4 not increase the assessed value when the square footage of the
5 homestead property as changed or improved does not exceed 110
6 percent of the square footage of the property before the
7 damage or destruction just value of the damaged or destroyed
8 portion as replaced is not more than 125 percent of the just
9 value of the damaged or destroyed portion. Assessed value
10 shall be increased by the just value of that portion of the
11 changed or improved homestead property any replaced real
12 property, or portion thereof, which is in excess of 110 125
13 percent of the square footage of the homestead before the
14 damage or destruction just value of the damaged or destroyed
15 property shall be deemed to be a change, addition, or
16 improvement. Homestead Replaced real property damaged or
17 destroyed by misfortunes or calamity which has a square
18 footage with a just value of less than 100 percent of the
19 original property's total square footage before the damage or
20 destruction just value shall be assessed pursuant to
21 subsection (5). For purposes of determining assessed value
22 pursuant to this paragraph, the just value of the changed or
23 improved portion in excess of 110 percent of the square
24 footage before the damage or destruction shall be determined
25 based on the average just value of all square footage in the
26 improved portions of the homestead property determined as of
27 January 1 of the year following the change or improvement.
28 (c) Changes, additions, or improvements include
29 improvements made to common areas or other improvements made
30 to property other than to the homestead property by the owner
31 or by an owner association, which improvements directly
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Florida Senate - 2006 (PROPOSED COMMITTEE BILL) SPB 7026
593-466-06
1 benefit the homestead property. Such changes, additions, or
2 improvements shall be assessed at just value, and the just
3 value shall be apportioned among the parcels benefiting from
4 the improvement.
5 Section 2. Subsection (7) is added to section 196.031,
6 Florida Statutes, to read:
7 196.031 Exemption of homesteads.--
8 (7) When homestead property is damaged or destroyed by
9 misfortune or calamity and the property is uninhabitable on
10 January 1 after the damage or destruction occurs, the
11 homestead exemption may be granted if the property is
12 otherwise qualified and if the property owner notifies the
13 property appraiser that he or she intends to repair or rebuild
14 the property and live in it as his or her primary residence
15 after it is repaired or rebuilt and does not claim a homestead
16 exemption on any other property or otherwise violate this
17 section while the repairs are being made.
18 Section 3. This act shall take effect upon becoming a
19 law and shall apply retroactively to January 1, 2006.
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22 SENATE SUMMARY
23 Revises the requirements for assessing the value of
homestead property that is changed or improved following
24 damage or destruction. Provides for the assessed value to
be increased by the just value of that portion of the
25 improved property which exceeds 110 percent of the former
square footage of the property. Provides for a property
26 owner to claim the homestead exemption for property that
the owner intends to repair or rebuild and live in as a
27 residence.
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